Benchmarking tools for Training Effectiveness and suggesting the best practices in a leading Conglomerate in India

Training presents a prime opportunity to expand the knowledge base of all employees, but many employers find the development opportunities expensive. Employees also miss out on work time while attending training sessions, which may delay the completion of projects. Despite the potential drawbacks, training and development provides both the company as a whole and the individual employees with benefits that make the cost and time a worthwhile investment. Statistics prove that companies across the globe invest heavily on employee training and development. According to Training Industry magazine, employee training and education spends in the India alone are growing incrementally by 14% every year. In addition to enhancing knowledge and skills, measuring training effectiveness has proven to be an important tool to boost employee engagement and retention. Results and measurements of past training also act as critical indicators while planning future workshops. Organizations should ensure that employees can demonstrate a positive impact of training through improved productivity and overall skill development. With the growing focus on continual learning and development, businesses are keen on identifying reliable metrics and methods to measure the effectiveness and the ROI of such employee training initiatives. After all, you would not want to deliver training that does not provide expected results. For this purpose, a list of tools was prepared that are being practiced worldwide and also a list of competitor companies. A survey was conducted through questionnaire and telephonic interviews in order to gain inputs from the companies about what are the tools adopted in their company and what is its success factor. Further, it was matched with the tools being adopted in this company and tried to understand the gaps. Finally, certain suggestions and recommendations were given to the company with suitable reasons as to what are the tools that could further be adopted based on its success factors. Also, the blueprints of some of the tools were designed and suggested to the company so that the company’s overall functioning of training and its effectiveness could be improved. Need for training effectiveness was thus taken care of through this project and was of greater use to the company.